Engro Enfrashare signs PKR 4,500 million Islamic syndicated facility with and to finance the development of tower sites for various Mobile Network Operators (MNOs) operating in Pakistan.
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As per terms of the financing arrangement, the tenor of the financing will be seven years, including a grace period of two years.
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Last month, Engro had announced to enhance its total equity investment in the Telecom Infrastructure Vertical to PKR 21,500 million.
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Engro Enfrashare is engaged in the acquisition and construction of shared telecom towers, provision of various telecommunication infrastructure and related services, including state of the art network monitoring solutions.
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Since its inception, the Company has now established strong relationships with all MNOs active in Pakistan and is working closely with them to develop build-to-suit (B2S) sites across the country to serve their coverage and capacity requirements.
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